Facebook Exceeds Expectations: Q1 Earnings

Just two weeks after testifying before Congress, Facebook Inc. (FB) CEO Mark Zuckerberg released the social network’s first quarter results and exceeded analyst’s expectations.

Facebook shares were up 6.5%, near 170, during after-hours trading on the stock market after the company’s earnings reports were better than expected. Facebook reported revenue of $11.97 billion, compared to forecasts of $11.4 billion. The company also said diluted earnings came in at $1.69 a share, beating predictions of $1.35 a share.

According to Investors, “Facebook stock was near its 50-day moving average — a positive signal — after crashing through it on March 16 when new reports of the Data Analytica privacy scandal emerged. The company said it ended the quarter with 1.45 billion daily active users, matching the consensus. It reported having 2.2 billion monthly active users, also meeting estimates.”

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